W22: Macadamia Update

In W22 in the macadamia landscape, it was reported that a study by the International Nut and Dried Fruit Council (INC) showed that macadamia nuts currently hold only 1% of the global nut market, but there is potential for growth in the industry. Between 2012 and 2022, tree nut production worldwide increased by an average of 229,221 tons annually. The global macadamia market was valued at USD 1.53 billion in 2022, with Europe expected to exhibit the fastest consumption growth rate at 12.1% until 2032. The countries with the highest demand for macadamias are Australia, the United States, China, and several European countries. In addition, the macadamia harvest in South Africa, which lasts from February to September, has been successful so far, with an expected crop of 81,556 tons forecasted for 2023. In South Africa, only about 2% of the macadamias produced are consumed locally, as producers prefer to export them due to higher revenues. Local demand is increasing due to lower prices and higher awareness of the health benefits of macadamia.